InPrime Finserv is a brand owned by STK Credit Private Limited, a Non-Banking Financial Company (NBFC) headquartered in Bangalore. InPrime is on a mission to “Redefine the way informal customers access formal finance.” It is focused on providing financial services to the “Prime” segment of India’s informal economy, which consists of around 50 million households with an annual credit need of Rs. 5 Lakh Crores. These households demonstrate a growth mindset, are transitioning to a less cash-dependent economy, and are gradually adopting digital technologies. They also have a proven credit and financial track record spanning several years.
InPrime’s goal is to identify this emerging segment within the informal economy and serve them with customized financial products designed to meet their evolving needs. The company plans to adopt a hybrid approach, combining the successful attributes of traditional lending with modern lending practices centered on data, digital technology, and innovation. This strategy aims to generate superior financial and non-financial value while focusing on the core elements of financial services: customer connection, engagement, and risk management.
InPrime’s lending approach will be characterised by a mix of field assessments and analysis of customers’ partially available digital footprints. This comprehensive evaluation will help determine customer needs, creditworthiness, and risk profiles. Prioritising a customer-centric focus, the company’s operations aim to offer a hassle-free onboarding experience and a swift turn-around time. InPrime seeks to empower its customers by providing multiple repayment channels and a gamified financial and digital literacy program to promote self-service.
A core part of India’s economic growth is driven by small and medium businesses in the informal sectors of ‘Bharat’. InPrime’s objective of serving this sector with tailored products is incredibly inspiring and necessary
“There have been few changes to this business in the 3000-odd years it has existed for. Winners still tend to ‘differentiate’ themselves largely on their execution. Rajat, Sneh and Manish were leading collections, credit and a substantial proportion of the entire book at one of the most successful small finance banks in the country. When a founding team like this comes together, you have to back their ability to execute.”
“Massive credit gap across semi-urban & rural areas is a known story. InPrime’s focus on this market using physital model and Rajat, Manish and Shen’s deep conviction for the segment and their extensive experience of lending business made us jump to be part of their journey.”
“The team at InPrime had a very strong career track in building and managing profitable credit business in India at Ujjivan. The founders had a complimentary skill set amongst them, deep knowledge of domain and wanted to replicate their success of past for their own venture. This was enough for us at Kettleborough VC to give them the first institutional commit for the round”.